Sony is hosting a livestreamed PlayStation 5 showcase on Wednesday at 4 p.m. EDT.

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The event will run around 40 minutes and can be viewed on PlayStation's official YouTube and Twitch channels.

Sony has said that the showcase will give fans another look at video games coming to the PlayStation 5 at launch and beyond.

The company did not confirm if it will announce the price and release date for the PlayStation 5, which is set to be released later this year.

Sony's rival Microsoft has already announced that Xbox Series S and Xbox Series X will be released on Nov. 10 for $299 and $499 respectively, leading many to believe that the PlayStation 5's price and launch date will be announced today.

The PlayStation 5 will also release with two models, a disc-less digital only version of the console and another with a disc drive. The system will have a 825 GB solid state drive which will make load times in games faster.

Spider-Man: Miles Morales, Horizon: Forbidden West, Ratchet and Clank: Rift Apart, a remake of Demon's Souls, Gran Turismo 7, Resident Evil 8 and more have already been announced for the PlayStation 5.